CANADA STOCKS-TSX futures up ahead of expected U.S. Fed rate hike

Dec 19 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday ahead of the U.S. Federal Reserve’s monetary policy decision, with gold prices near five-month highs.

The Fed is expected to raise interest rates, but may cut the number of hikes it anticipates next year, signaling an earlier end to its monetary tightening in the face of financial market volatility and rising recession fears.

The U.S. central bank is due to announce its decision at 2 p.m. ET (1900 GMT) after its final two-day policy meeting of the year.

December futures on the S&P/TSX index were up 0.52 percent at 7:00 a.m. ET.